Gift cards can typically not be used directly at ATMs. Gift cards are often restricted for use only at specific merchants or retailers, and therefore cannot be used to withdraw cash or make purchases at other locations. However, there are a few exceptions to this rule.
Some gift cards may come with a cash advance feature that allows cardholders to withdraw cash from an ATM. This feature is typically only available on prepaid debit cards, which can be loaded with funds and used like a regular debit card. However, these cards often charge high fees for cash advances, making them an expensive option for accessing cash.
Another way to access cash using a gift card is to sell the gift card for cash to a gift card exchange or reseller. These companies typically offer a percentage of the card’s value in exchange for the gift card, which can then be used to withdraw cash or make purchases.
In addition, some gift cards may be eligible for cash back rewards when used to make purchases at certain retailers. For example, some credit cards offer cash back rewards for purchases made at grocery stores, gas stations, or other retailers. If a gift card is used to make a qualifying purchase at one of these retailers, the cardholder may be eligible to receive cash back rewards in the form of a statement credit or cash deposit.
It is important to note that the availability and terms of these options can vary depending on the specific gift card, the issuer, and the retailer. It is important to read the terms and conditions of a gift card carefully before using it, and to be aware of any fees or restrictions that may apply.
In summary, while gift cards cannot typically be used directly at ATMs, there are a few options for accessing cash using a gift card. These options may include cash advance features on prepaid debit cards, selling the gift card for cash, or using the gift card to earn cash back rewards on purchases at eligible retailers. However, it is important to read the terms and conditions of a gift card carefully and to be aware of any fees or restrictions that may apply.
